MOVE over FTSE , the North West now has its own shares index.

The Stock Exchange has launched landMARK north west which groups together around 120 companies from the region whose shares are traded on either the main market or AIM.

The index tracks the fortunes of Lancashire companies such as Airtours, Interlink Foods, Silentnight, Gaskell, Enterprise and Ultraframe.

The listed companies have a combined market value of more than £21 billion and represent 27 different industry sectors. On average daily trading in the shares of these companies is valued at over £89 million.

landMARK north west is the first regional market to be established in the UK by the Stock Exchange. It will produce a daily chart, detailing movements in the share price of listed companies and will highlight the day's biggest risers and fallers.

The initiative has been welcomed by Tony Hedley, of Blackburn stockbrokers Hedley & Co. " I am sure this will create a lot of interest locally," he said. "Our experience shows that people are keen to invest in local companies and this will help them to identify and monitor businesses located in their area.

Simon Cleaver, the London Stock Exchange's business development manager for the North West, said the new market would increase the visibility of companies based in the area.

"Its introduction will increase awareness and knowledge about companies in the North West," he said. "It will create a higher profile for companies' shares and greater liquidity in the market."

landMARK north west is supported by a dedicated website -- www.londonstockexchange.com/landmarknorthwest. This gives investors access to detailed information about companies in the region, as well as information about the financial community that supports and advises them.

Jeremy King, of ProShare, an organisation that encourages wider share ownership, said landMARK was a tremendous new resource for the private investor.

"Many investment clubs and private investors make a point of investing in companies that are local to them," he said. They do this because it is often easier to understand what is happening in these businesses and because they feel a sense of affinity with them."